PSFT - Fiscal 1998 - Discussion for the next year Message Board

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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year

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Oct 29 5:00 PM EST

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To: Lutz Moeller who wrote (3145)	10/22/1998 11:49:00 AM
From: Chuzzlewit	Read Replies (2) of 4509

Good Morning Lutz, At least it's morning on the west coast of the USA. I would like to amend the point I made about continuing excellent fundamentals. There is a possible negative which nobody on the thread seems to have picked up on. PeopleSoft is sitting on around $670MM in cash and cash equivalents. This is clearly an excessive amount, and I think either speaks to poor cash management, or the possible intention to use the cash to buy another company which might significantly enhance PSFT's position. Given the combination of a distressed stock market (at least as far as ERP is concerned) and low interest rates, it seems that the stage could be set for the purchase of a quality software company for (gasp!) cash. So the question I pose is what companies are out there that might be had for around $500 MM that could significantly enhance PSFT's position? I believe the timing is right to convert that "negative" into something meaningful to the company. TTFN, CTC

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